Lynbrook housing lottery offers 20 reduced-rent apartments at new luxury building near LIRR
The Langdon, a new luxury apartment complex in Lynbrook, opens next month. Credit: Newsday/Howard Schnapp
A new Lynbrook apartment building will open next month — and apartment hunters can apply through July 7 to qualify for one of 20 units being offered with below-market rents.
The units are located in The Langdon, a 201-unit luxury building across from the village's train station. The project was developed by Garden City-based Breslin Realty Development Corp. and Fields Grade Development, which is based in Hoboken, New Jersey.
The apartments are one of the latest additions of new housing on Long Island, where advocates say the demand for rentals far exceeds availability, particularly for projects like The Langdon that are located near transit and a walkable downtown.
Recent lotteries for affordable housing on Long Island have attracted hundreds of applications for only a few dozen units.
WHAT NEWSDAY FOUND
- The Langdon, a new 201-unit apartment building across from the Lynbrook train station, is slated to open to tenants next month.
- Applications for a housing lottery to qualify for 20 units offered at below-market rents are open through July 7.
- The addition of hundreds of new residents will offer a boost for the village's downtown businesses, the executive director of the village's chamber of commerce said.
“The need for the number of affordable rental units is so high that anyone producing these units, they’ll be rented up fairly quickly," said Peter Elkowitz, CEO of the Hauppauge-based Long Island Housing Partnership, which is running the lottery.
To qualify, renters must earn no more than 80% of the area median income. That limit is $92,350 for an individual or $105,550 for a couple, with higher income limits allowed for larger households.
Of the 20 units available in the lottery, six are studios, 11 are one-bedroom units and three are two-bedroom units.
Rents for the affordable units are $2,212 for a studio, $2,527 for a one-bedroom unit or $3,147 for a two-bedroom unit, which is below the market rate for similar units, Elkowitz said.
At those rents, the 20 units meet the federal standard for affordable housing, which requires housing expenses including utilities take up no more than 30% of a household's gross income, according to the U.S. Department of Housing and Urban Development.
The affordable units were required as part of a package of tax benefits provided by the Town of Hempstead Industrial Development Agency. The IDA granted the developers $2.4 million in reduced sales and mortgage recording taxes as well as a 30-year payment in lieu of taxes, or PILOT, agreement. The owners will pay about $948,000 a year on average in PILOT payments.
Beyond the lottery apartments, The Langdon has kicked off leasing for its market-rate units with its onsite leasing office set to open Monday, said David Orwasher, Breslin Realty's chief development officer.
Orwasher said the rents for the market-rate units haven’t yet been finalized. Asking rents for alcove studios will be in the high $2,000s, with one-bedrooms in the mid-$3,000s and two-bedrooms slightly above $4,000 per month, he said.
Given the cost of buying a house on Long Island, Orwasher said he believes there is a market for high-quality rental housing among young professionals who cannot afford to buy a house and seniors who would like to downsize from the responsibilities of homeownership.
He believes the building’s access to Manhattan via a 35-minute ride on the Long Island Rail Road and its proximity to beaches will be a draw. Its amenities include a rooftop terrace with views of the Manhattan skyline, remote work spaces, a fitness center as well as a dog spa and a dog run. There’s also a covered parking garage with 205 spaces.
“This will speak to Gen Zers, millennials, single professionals, dual professionals and empty nesters as well,” Orwasher said.
Boost for businesses
The Langdon was built on the site of an assemblage of industrial buildings, including the former Mangrove Feather Factory. The building is also seeking a tenant for 1,800 square feet of ground-floor restaurant space.
The opening of the building will offer a boost to Lynbrook businesses that have already been working with the developer to offer discounts to new residents, said Polly Talbott, executive director of the Lynbrook Chamber of Commerce.
Talbott, who owns a business offering private cooking classes, hopes the opening of The Langdon will help attract a wider array of retailers, including a small supermarket, to the village’s downtown.
“We feel it’s really going to boost business,” Talbott said. “It’s going to help fill up any empty storefronts that are left.”
More information on the housing lottery is available at lihp.org/rentals.html.
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